Nakilat reports net profit drop

Nakilat reports net profit drop

Qatar’s Nakilat, the world’s largest liquefied natural gas (LNG) shipper, reported an 11 percent drop in its net profit for the year 2017.

Qatar Gas Transport Company Limited (Nakilat) reported a net profit of 846.2 million Qatari Riyals ($232.5 million) compared to net profit amounting to 954.2 million Qatari Riyals for the same period of the previous year.

The company noted that during the year it has deployed its plans to maintain its position in global LNG transport as well as the country’s LNG supply chain.

“Despite the challenges facing the energy and maritime industry, the company managed to achieve positive results across its operations that exceeded planned expectations in 2017,” the statement reads.

Additionally, the net profit achieved in the fourth quarter of 2017 was higher than that achieved in the third quarter of 2017 and fourth quarter of 2016, by 21 percent and 16 percent respectively.

The company’s revenue for the period reached 3.6 billion riyals ($994 million), 4 percent below the 3.75 billion riyals in 2016.

Nakilat said it is continuing to explore different business opportunities and mitigating business risks to strengthen the company’s international position in the LNG shipping industry.

 

 

Share this article

Follow LNG World News

Posted on February 26, 2018 with tags .

Events>

<< Oct 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

LNG Supply, Transport & Storage South Asia Forum 2018

LNG Supply, Transport & Storage South Asia Forum 2018 will address and propagate LNG imports…

read more >

Offshore Energy Exhibition & Conference 2018

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event.

read more >

LNG Philippines Forum 2018

LNG’s role in the Philippines’ energy mix will only get bigger…

read more >

5th Mozambique Gas Summit & Exhibition

Following the Summit’s success in 2017, the CWC Group in partnership with ENH and with the support and participation from MIREME and INP, are delighted to invite you to the 5th edition of the Mozambique Gas Summit & Exhibition taking place at a larger venue this year, the NEW Joaquim Chissano Conference Centre in Maputo on 31 October – 2 November 2018.

Recognised as the leading strategic meeting for Mozambique’s gas industry, the event addresses the entire gas and LNG value chain bringing together Government officials with industry stakeholders for 3 highly interactive days of networking and frank discussions aiming to establish Mozambique as the next international gas hub.

More info

read more >